SARB raises repo rate by 25 basis points

The South African Reserve Bank’s Monetary Policy Committee has hiked the repo rate by 25 basis points from 6.75% to 7% to at the end of its three-day March meeting. The MPC said three of its members had voted to raise the rate by 25 basis points while three had voted for it to remain unchanged.The decision to raise rates follows a three day meeting of the Bank's monetary policy committee (MPC).